TechnipFMC plc (NYSE:FTI) Shares Acquired by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd increased its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 1,353.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,700 shares of the oil and gas company's stock after purchasing an additional 37,900 shares during the quarter. Catalyst Funds Management Pty Ltd's holdings in TechnipFMC were worth $1,178,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Franklin Resources Inc. boosted its stake in TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock valued at $98,838,000 after buying an additional 679,748 shares during the last quarter. Park Avenue Securities LLC bought a new position in TechnipFMC during the fourth quarter valued at approximately $519,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in TechnipFMC by 971.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company's stock valued at $10,692,000 after buying an additional 369,594 shares during the last quarter. ING Groep NV boosted its stake in TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock valued at $22,697,000 after buying an additional 114,600 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in TechnipFMC during the third quarter valued at approximately $49,273,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

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Insiders Place Their Bets

In other news, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. This trade represents a 23.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on FTI. TD Cowen reissued a "buy" rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and raised their price objective for the company from $29.00 to $40.00 in a research note on Friday, December 6th. Piper Sandler raised their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Royal Bank of Canada started coverage on TechnipFMC in a research note on Monday, November 18th. They issued an "outperform" rating and a $37.00 price objective for the company. Finally, Evercore ISI raised their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $36.31.

TechnipFMC Trading Up 3.7 %

FTI traded up $1.01 during trading on Monday, hitting $28.25. 1,999,404 shares of the stock were exchanged, compared to its average volume of 3,727,342. The firm has a 50 day simple moving average of $30.07 and a 200 day simple moving average of $28.61. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 18.63 and a beta of 1.54. TechnipFMC plc has a 1 year low of $22.99 and a 1 year high of $33.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.71%. TechnipFMC's payout ratio is currently 10.42%.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.